Hoshino Resorts REIT, Inc., known as HRR, made its debut on the public market in 2013, initially recognized among the smaller real estate investment trusts globally. We adopted a distinctive strategy, becoming the first REIT to integrate traditional Japanese inns, or ryokans, into our portfolio. Since our inception, we have consistently enhanced unitholder value, dramatically expanding our asset base to approximately ten times its original size at the time of listing, while also seeing a substantial increase in our distributions compared to our initial public periods. Looking ahead, our ambition is to cultivate further expansion by fostering a cycle of continually strengthening competitiveness within the Hoshino Resorts ecosystem. HRR is dedicated to maintaining sound financial management as we pursue a robust portfolio enlargement to further support Japan's dynamic tourism sector. We appreciate your continued confidence and encouragement in our endeavors.